Grey if everything goes as planned, we should be JPM shareholders by then and will be very interested in that report. If the report is issued and we are not JPM shareholders by then, then Weil and Quinn are gonna love introducing it as evidence in the [negative goodwill] claim. The FDIC is responsible for obtaining the best price for the assets they put into receivership, they "dropped the ball" on this one. I have a friend who knows a "high ranking" FDIC official in the Minn office and they are anxiously waiting a JPM rescue [scared of the litigation].
Something is amiss and we should be JPM shareholders by then. If not, we should be 4Bil richer and pouring over some very interesting books, ledgers and notes in regards to our BK rule 2004 [fishing examination] either way, the amount of revenue produced as of the result of the WAMU takeover, is going to be extremely positive on their balance sheet and we are going to benefit from in "any way shape or form."
Dimon is a complete idiot if he lets this lawsuit/bk adversary hearing get that far, because he will be sealing his fate in a RICO prosecution or at the least a fraudulent SEC investigation.His Hubris will cause him to eventually be removed from the Chairmanship and move down to maybe a board position. I know he has done great things for JPM, but these and other lawsuits in play now, could BK this company. Arrogance has no business being in the banking industry.
Things will move very fast, once the government is ordered and forced by the Judge to investigate. After that it is all over {Think Martha Stewart and ImClone). Texas is also getting ready to order an investigation. If what they find is made public, then it can and will be introduced by our attorney's as "evidence" and used as such if allowed by Judge. Think ENRON!
I understand this Judge is no push-over, has no political aspirations and will not put up with Dimon's or any attorney's sh#t if they try to delay this case any further. She has given them plenty of time to sit down and settle the suit, so she will not have to make the hardest and most dire ruling in her long career. She is definitely a "Supreme Court" nominee someday if she can make this all go away and Obama does not have to deal with it or his economy doesn't crash. Once he is informed that JPM might kill his progress, Dimon will be "front and center" in the oval office and they won't be sipping tea either!
If it goes all the way to her decision, the outcome is People will do "jail time" if this thing goes that far and we may even have a Judge declare the receivership "null and void" and take back the assets that were illegally and unrightfully seized by the FDIC. This investment will be worth plenty, but most of our other ones will tank, because they will follow the DOW in the "sell off" and we return back to Mid summer last years numbers. Then we have to start all over again. Believe me when I say this, "HEADS WILL ROLL!!!!" Especially at the FDIC, SEC and OTS...
